Home Improvement Market - Global Industry Size, Share, Trend and Forecast 2026

1. 2016 – 2026 GLOBAL HOME IMPROVEMENT MARKET FORECAST AND OPPORTUNITIES www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING

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13. Product Overview

14. Scope of Report Product of Interest (POI): Home Improvement Home improvement is the process of renovating or adding products to one's home that are related to home décor, gardening or other such activities. The house renovation market involves efforts to improve a pre-existing home's interior, exterior or other characteristics. The home renovation market also includes maintenance, repair and basic servicing. GLOBAL HOME IMPROVEMENT MARKET Market Segmentation TYPE • Building and Remodeling (Building Supplies, Electricals, Heating and Cooling, Plumbing) • Home Décor (Décor, Flooring, Kitchen and Bath, Lighting and Fans, Paints, etc.) • Tools and Hardware (Hand Tools, Hardware, Power Tools, Safety and Security) • Outdoor Living (Books, Cleaning and Janitor, Garden Center, Outdoor Power Equipment) Review Period 2016 – 2019 Base Year 2020 Estimated Year 2021 Forecast Period 2022 – 2026 Year Range PROJECT • DIFM • DIY REGION • North America • Europe • Asia-Pacific • South America • Middle East & Africa SOURCING • Homeware Stores • Franchised Stores • Specialty Stores • Online Sales • Others

15. Research Methodology

16. Research Methodology Data Collection Data Validation Market Profiling Data Analysis Developing list of Respondents Formulating Questionnaire In-depth secondary research was conducted to determine top players in the global home improvement market, overall market size and segmental market size. The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about the global home improvement market. Data obtained as a result of primary and secondary research was validated through rigorous triangulation. TechSci conducted interviews with industry experts and industry players for data collection and verification. In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide. List of industry players and industry specialists was developed. Actionable Insights Data Filter & Analysis Business Solution Research & Intelligence Data Collection Primary Research Desk Research Company Analysis • Recent Developments • Market Changing Aspects/Dynamics • Government Policies • Final Conclusion • Market Participants • Key Strengths • Identifying Key Opinion Leaders • Questionnaire Design • In-depth Interviews Primary Research Secondary Research Paid Sources • LinkedIn • TechSci Internal Database • Company Websites • Company Annual Reports • White Paper Study • Financial Reports • Investor Presentations • Regulatory Body • Associations, etc. • Factiva • Hoovers 16

17. Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of the global home improvement market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as increasing disposable income, continuous change in consumer tastes and preferences, rapid urbanization and technological advancements. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in the global home improvement market. Methodology Followed for Calculation of Market Size: • Market Size by Value: Market size, in terms of value, for the year 2020 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as home improvementcompanies, channel partners, market influencers & end users, industry experts and other industry participants. • The team interviewed 25–30 home improvement companies, 300 end users and 15–20 industry experts and other value chain stakeholders in the global home improvement market to obtain the overall market size from 2016 to 2020, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out to arrive at the market size data during the historical period. 17

18. Research Methodology • Respondents were asked about the current and future market growth rates, market shares by product, by project, by sourcing, by region and by company. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders depending upon the type of home improvement segments. Methodology Followed for Forecasting: • Market shares by product, by project, by sourcing, by region and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various types of home improvement segments. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. • TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software. • Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast the global home improvement market, TechSci Research used various forecast techniques such as: Moving Average Time Series Analysis Regression Analysis Econometric and Judgmental Analysis Note: (a) Sum of some shares may not be 100% due to round off till two decimal places. 18

19. Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long-term period to estimate and analyze the market demand scenario. It should be noted that the figures compiled are only for the organized market including market share data. The currency used in the report is the United States Dollar (USD), with the market size indicated in USD billion. 19

20. Industry Brief Growing disposable income and increasing trend of house parties and home renovation to drive the demand for global home improvement market for the forecast period. According to TechSci Research report, “Home Improvement Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2026”, Global home improvement market was valued at over USD1415 billion in 2020 and is forecast to grow at a CAGR of 5.23% to reach around USD1928 billion by 2026. DIY or do-it-yourself is one of the trends that is gaining popularity. During the pandemic, many consumers took the task of home improvement and started adding home offices and gyms, gardening, or simply repainting their living space. Since DIY is cost-effective, therefore, preference of trend is on the rise. Also, high labor cost in the infrastructure sector is another factor that is promoting this trend. The emergence of smart kitchen appliances such as self-regulating dispenser, motion-sensing water faucets, coupled with increasing disposable income, are promoting the growth of the global home improvement market through 2026. However, a sudden increase or decrease in the price of raw materials affects the end project cost and profit margin of manufacturers and contractors, thereby increasing the price of the service and hampering the market's growth. The rising consumer awareness regarding sustainability is prompting market players to take efficient steps towards sustainability in order to expand their consumer base. For instance, in 2020, Home Depot reported a decrease in store's electricity usage by 44% in the United States in the last years. Due to the installation of LED lighting, the usage of building-automation systems, and the inclusion of energy-efficient heating, air conditioning, and ventilation systems, electricity use among US retailers declined by more than 14% in 2020. The corporation is also making headway toward its objective of eliminating expanded polystyrene (EPS) foam and polyvinyl chloride (PVC) film from private-label packaging by 2023 in favor of new recyclable alternatives. Global home improvement market is segmented into product, project, sourcing, and company. On the basis of product, the market can be segmented into building and remodeling, home décor, tools and hardware, and outdoor living. Out of these, the building and remodeling segment accounted for a share of over 39% in 2020 and is forecast to continue dominance until 2026. Based on the project, the market is split into DIY and DIFM. The DIY segment registered the fastest demand in the global home improvement market. The segment is projected to continue to grow at a higher pace with a CAGR of 5.79% in the forecast period owing to factors such as the growing relevance of DIY products among consumers, as well as an expansion of product portfolio by the companies which can be easily put in place by customers in their homes. The internet has evolved into a valuable resource for DIYers as they can instantly avail complete product information. Moreover, the growing consumer preference towards DIY is also due to the increasing product and service range offered by market players. For instance, in 2020, The Home Depot introduced a variety of innovative new products and services to their DIY and Pro consumers, as well as focused on improving visual merchandising to improve the shopping experience. Leading players operating in the global home improvement market include The Home Depot U.S.A., Inc., Lowe's Companies, Inc., Groupe Adeo SA, Wesfarmers Limited (Bunnings Warehouse), Kingfisher Plc, Menards, Inc., Ace Hardware Corporation, OBI Group Holding SE & Co.KGaA, Hornbach Holding AG & Co. KGaA Group, 3M Company “The Asia-Pacific region is projected to advance with the fastest growth in the global home improvement market with a CAGR of 5.93% through 2026, on account of the rising middle-class population, growing preferences of consumers for luxurious and energy-efficient living spaces, rapid urbanization, and increasing purchasing power of the consumers. The rapid expansion in the growth of the Asia-Pacific region can be ascribed to the region's dense population. Additionally, in this region, urban consumers are demonstrating a stronger desire to renovate and refurbish their homes. They are continuously spending on services that meet their preferences. Moreover, due to the presence of vast urban agglomerations, several nations such as China, India and others have tremendous growth potential, resulting in increased demand for home improvement products and services.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

21. Sample Data - Snapshot Global Home Improvement Market Size, By Value (USD Billion), 2016-2026F CAGR 2016-2020 By Value: xx% CAGR 2021E-2026F By Value: xx% Asia-Pacific Home Improvement Market Share, By Product, By Value, 2016-2026F Japan Home Improvement Market Share, By Project, By Value, 2016-2026F

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